In order to reduce the energy efficiency of the construction industry and improve the building safety, in this research, a new type of inorganic insulation material – vitreous bead insulation mortar is studied and its properties are analyzed. Quantitative method is used to analyze the influence of glass bead mixing amount, cellulose ether mixing amount and redispersible emulsion powder mixing amount on the consistency, water retention rate, dry density, softening coefficient and compressive strength of glass bead insulation mortar. The effect of different raw materials allocation on the thermal conductivity of vitrified microbeads thermal insulation mortar is explored. The results show that the performance of insulation mortar decreases significantly with the increase of glass bubbles. With the increase of cellulose ether content, the consistency and compressive strength of insulation mortar first increased and then decreased, the water retention rate increased significantly, but the dry density decreased significantly. With the increase of the content of redispersible emulsion powder, the consistency and compressive strength of insulation mortar first increased and then decreased, but the dry density decreased gradually. Glass bubbles and fly ash parameters are the main factors that affect the thermal conductivity of thermal insulation mortar, and their thermal conductivity decreases with the increase of the proportion of air-entraining agent. As a result, the performance of vitreous microbeads thermal insulation mortar will change to a certain extent with the different proportion of raw materials, which provides data support for the preparation and application of inorganic external wall thermal insulation materials.